The Oldest Newspaper Published In North Carolina
The Carolina Watchman
■ i.-.. «
"The Watchman Carries a Summary of ^All The TTews”
Founded 1832-100th Year SALISBURY, FRIDAY MORNING, JANUARY 29, 1932 Yol. 27, No. 5 Price 2 Cents
Gov’t Lends Two Billion To Boost Trade
LOCAL BANKERS,
BUSINESS MEN
PRAISE MEASURE
Giant Credit Body Starts
Money In Circulation To
Revive Business Stagna
tion.
LOANS WILL BE
MADE WITHOUT
FURTHER DELAY
This Section Is Expected
To Feel Benefits As Re
construction Corpora
tion Starts Its Work.
A bright sign heralding business re
covery is. seen by Salisbury bankers and
business men in the $2,000,000,000
reconstruction finance corporation
which is to begin functioning in the
near future.
The bill was made a law last week
when passed by both houses of cong
ress and signed by the president. The
democrats and the republican mem
bers of both houses supported the
measure.
As the bill came nearer to adoption
by the country’s governing bodies,
confidence became noticeably strong
er and the whole country should be
characterized by a rapidly increasing
spirit of confidence as the corporation
starts its work.
A constructive measure designed to
give renewed support to business, in
dustry and agriculture by rendering
liquid the resources of the smaller
banks and financial institutions, the
corporation is expected to give the bus
iness of the country the impetus need
ed for recovery.
Within two weeks it is planned to
pour a stream of money into the chan
nels of trade, through loans to rail
roads, financial institutions, farm
credit associations and to receivers of
closed banks.
Charles G. Dawes, who Is to head
the reconstruction corporation, has
virtually completed skeleton plans for
his mammoth credit organization, to
be swung into action before the ink
is dry on President Hoover’s signa
ture.
The bill embodies the major propos
al of his economic program, designed
to revitalize credit and develop a buy
ing psychology rather than one of
hoarding.
Individual corporations, under the
completed bill, will be able to borrow
im fn tinn non non pach. but onlv on
good collateral approved by Dawes
and his Board of Directors. The board
will include himself and three othet
appointed members, Democrats; Sec
retary of Treasury Andrew W. Mel
lon, Eugene Meyer, Jr., Chairman of
the Federal Reserve Board, and Paul
Bestor, Farm Loan Commissioner,
Meyer will be Chairman of the board,
The bill provides:
(1) —Initially the Treasury will
start the wheels rolling with a bone
issue, to be announced in a few days
of approximately $100,000,000. Thf
money as soon as raised will be a<L
vanced to Dawes’ corporation as cap
ital. Under the terms of the bill th(
corporation thereupon can issue $300,
000,000 of its own bonds, to be sole
to the public through banks or t(
banks themselves if they wish them
The denominations of the proposec
"reconstruction bonds” have not beet
disclosed.
(2) —As soon as it obtains its tirs
money from the Treasury application
for credit will be in order. Applica
tions will be passed upon by the sevei
Directors of the corporation. If the]
approve, the loans will be made forth
with.
(3) —Special provision will be mad
(Please turn to back page)
Good
Morning
* m.i ,ini >
NO CYNIC, I
No cynic, I.
I do not sneer
At that which man
Regardeth dear.
I laugh with those
Whom laughter stirs
I see in love,
When that occurs
A promise sweet
Of endless bliss—
No cynic, I;
I’m sure of this.
No cynic, I.
I look for good
In everything,
As people should.
I swell with hopes
And also pride
And give all doubts
The gangsters’ ride.
And if I cross
My fingers—gee!
That only means
I’m cautious—see?
SMART ALECK!
Mrs. (entering hubby’s den) —
Here’s my new dress, dear. I bought
it for a song.
Mr.—All right; send in the collec
tor and I’ll sing to him.—Brooklyn
Eagle.
NURSERY RHYME UP-TO-DATE
Old Man Prosperity sat on a wall,
Old Man Prosperity had a bad fall.
All the President’s bankers
And all his Congressmen
Failed to put Old Prosperity
Together again.
Motorist: "Officer, officer, come
quickly. I’ve knocked down a stu
dent!”
Cop (picking teeth casually): "Sor
ry, it’s Sunday, and you can’t collect
your bounty, until tomorrow morn
‘ _ »»
mg.
"I suppose you have meats to suit
every purse?” the customer inquired.
"Yes,” replied the butcher, "I cater
for everybody.”
"What do you have for an empty
purse?” asked the customer.
"In that case I generally give the
cold shoulder,” the butcher answered.
—Answers.
ME TOO
Son: "Say, pop, the teacher asked
me to find the greatest common di
visor.”
Pop: "Good heavens, is that thing
still lost? The teacher had me hunting
‘for it when I was a kid.”
Lawyer handing check for ,-100 to
client who had been awarded $500:
"There’s the balance after deducting
my fee. What are you thinking of?
Aren’t you satisfied?”
Client—"I was just wondering whc
got hit by the car, you o' me.”—
Kearney.
ESSENTIAL FACTS
Judge {after charging jury in an
illicit still case) : "Is there any ques
tion you gentlemen would like to ask
before considering the evidence?”
Juror: "A couple of us would like
. to know how long the defendant boil
ed the malt, and how does he keep the
yeast out?”
GOB HUMOR
1 King Solomon and King David
Led merry, merry lives,
They had many, many lady friends,
1 And, many, many wives,
But when old age crept over them,
With many, many qualms,
i King Solomon wrote the Proverbs,
And King David wrote the Psalms.
i -
DONE FOR
Young Wife: "Aren’t you the sam
man -I gave some biscuits to las
: week?”
Tramp: "No, mum, and the doc
tor says I never will be again.”
Republicans To Hold State
Convention At Charlotte On
April 14; to Name Delegates
Present plans contemplate that the
biennial state convention of the Re
publican party will be held in Arm
ory-Auditorium, in Charlotte Thurs
day, April 14, it is learned.
As usual, it will be a one-day con
vention, although much work is to be
performed by committees prior to the
formal meeting of the delegates. It is
safe to assume that there will be much
activity of this sort Wednesday night,
April 13.
At the convention a national com
mitteeman and a national committee
woman for the ensuing quadrennium
will be elected. It is understood that
National Committeeman Charles A.
Jonas, of Lincolnton, who also is Unit
ed States district attorney, and Mrs.
Queen Bess Kennen, of Mocksville, na
tional committeewoman, will be can
didates to succeed themselves. Mrs.
Kennen is nearing the end of her orig
inal four-year term. Mr. Jonas has
served slightly longer, having been
named to fill out the unexpired term
of Johnson J. Hayes, of Greensboro,
when the latter resigned as national
committeeman in 1927 because of his
appointment as judge of United States
district court, and subsequently elect
ed for four years.
In Charlotte in April, 1930, Jalties
! S. Duncan, of Greensboro, and Mrs.
C. B. Winn, of Liberty, were elected
state chairman and state vice chair
man respectively, each for a term of
four years, so their present terms will
not expire until April, 1934.
Seven delegates-at-large to the Re
publican national convention, to be
held next June in Chicago, will be
elected at the biennial state meeting
in Charlotte. This represents a gain of
three in the last four years because of
the fact that the Hoover electors car
ried North Carolina in 1928. Hereto
fore the Republican party in this state
has been entitled to only four dele
gates-at-large. With the exception of
the first district, which will have just
one delegate, each congressional dis
trict in the state will have two dele
gates at the Republican national con
vention. It is necessary for a district to
cast a minimum of 10,000 votes in the
presidential election in order to qual
ify for two delegates. Under the re
districting plan there are II congres
sional districts, and there will be 28
delegates at Chicago, these, of course,
including the ones elected to represent
the party at large. Twenty-one dele
gates will be chosen as congressional
conventions.
It is customary for thd party to
elect its state chairman and national
committeeman as delegates-at-large.
The usual plan is for the party in
convention to select its nominees for
state offices and for United States sen
ator, although in 1930 there was a
senatorial primary. Present indications
seem to point to the nomination of
Jake F. Newell, of Charlotte, the only
announced aspirant, to make the race
Revives States’ Rights
John J. Raskob, chairman of the
Democratic National Committee,
wants each individual state to de
cide for itself whether to be wet
or dry.
for United States senator. So far as as
certainable, there has been relatively
tittle crystainzaiidfrtT "sertument in
the party in regard to a gubernatorial
nominee. Several names have been
mentioned in speculation as to potential
candidates for the Republican nomina
tion for governor, these including two
prominent educators, Holland Holton,
Duke university, Durham, and I. G.
Greer, of Appalachian State Teach
ers’ college, Boone.
OFFICIALS RAPPED
Washington—Prevalence of i rime
among white men is in a measure due
to the lax enforcement of the state
compulsory school attendance law by
officials, believes Judge N. A. Sinclair.
Idleness tends to introduce the youth
to the gambling table and the b'ind
tiger man and thus leads to his degen
eration, the jurist says.
IS OPTIMISTIC
Winston-Salem—C. L. Shuping,
chairman of the Democratic Victory
Drive committee in North Carolina,
is optimistic. Every sign, he says,
points to victory for the party this
year.
BUS COMPANY IS SUED
Charlotte — The Carolina Coach
company is named defendant in a suit
for $3,000 brought by Mrs. Eula Lee
Falkner. She charges that she was ov
ercharged for a ticket and that her
funds were so depleted that she found
it necessary to walk a part of the dis
tance between Burlington and Char
lott in the hot sun.
Who’s Who In Rowan
TEACHERS’ DIRECTORY
ROWAN COUNTY SCHOOLS
Ellis
Mrs. Vivian K. King, East Spen
cer; Ruth Meetz, Salisbury, R. 1;
Martha Hannah, Salisbury, R. 1.
Enochville
Mrs. T. M. Mauney, Kannapolis;
Louanna Overcash, Kannapolis, R. 2;
Marine Bassinger, Kannapolis.
Enon
Mrs. W. K. Myers, Salisbury, R.
5; Florence Rufty, Salisbury.
Faith
J. R. Jones, Salisbury; Mabel Wain,
Granite Quarry; Margie Williams,
Salisbury, R. 3; Dorothy Peeler, Sal
isbury, R. 3; Mrs. J. L. Shie, Salis
: bury; Keith Feamster, Salisbury.
: Fink and Yost
Z. A. Kluttz, Rockwell; Pear!
• Hemphill, Old Fort.
Fisher (Gold Hili.)
ray Nluttz, tcocKweu.
Fleming
Grace Basinger, Salisbury, R. 2.
Flint Hill
Edna Ward, Salisbury, R. 1.
Friendship
Mrs. Mary Miller, Misenheimer.
Gold Knob
Mrs. Frances Hartley, Salisbury;
Kate Morgan, Gold Hill, R. 1.
Granite Quarry
B. D. Franklin, principal, Granite
Quarry; W. R. Lingle, history, Gran
ite Quarry; Helen Peacock, English
and mathematics, Salisbury; Cora
Clark, French and science, Crossnore;
Martha Fisher, home economics, Gran
ite Quarry; Pearl Fisher, Salisbury;
Mary E. Wetmore, Woodleaf; Reba
Johnson, St. Paul; Lena Brown, Gran
ite Quarry; Eula Peeler, Salisbury;
Mrs. W. R. Lingle, Granite Quarry;
Frieda Brockman, Salisbury.
(Continued next week)
Ir—."■
NORTH CAROLINA
NEWS IN
BRIEF
■
WILL GO ON TRIAL
Lexington—Mrs. Lola Pendleton
Pickett, 40, charged with poisoning
her six-year-old daughter, will go on
trial here in February.
BURNS PROVE FATAL
Charlotte—Claude Davis, 37, set
fire to the bedding in his jail cell and
then sat down in the fire. He died in
a hospital several hours later.
PARDUE SENTENCED AGAIN
Winston-Salem—Rev. Thomas F.
(Thunderbolt Tom) Pardue, former
evangelist, was sentenced to a year on
the roads for his second violation of
the prohibition laws.
MORRISON DECLINES
Raleigh—Senator Cameron Morri
son has written Frank D. Grist de
clining an invitation to enter the joint
debate during the campaign. Mr. Grist
and Mr. Morrison are political oppo
nents.
MINISTER DIES
Clinton—Rev C. C. Alexander, pas
tor of Clinton Methodist church and
former president of Louisburg college,
died at his home here at the age of
39 years. His widow and three children
survive.
V ''"’S':-■■ .-»n.
AIR LINE EXTENSION
Charlotte—Plans are on foot for the.
extension of passenger air lines from
Charlotte westward via Asheville,
Knoxville, Nashville, and Memphis,
Tenn. The Stinson Aircraft corpora
tion may make the expansion.
STATE TO GET BIDS
chase and contract will receive bids
Raleigh—The state division of pur
for about $36,000 worth of materials
the state needs and bids on state pris
on camps aggregating about $42,000
will be opened.
CORNERSTONE LAID
Raleigh—The capital’s new city
auditorium, which will be ,a memorial
to veterans of the Spanish-American
war and the World war, is being erect
ed at a cost of $300,000. There was a
spectacular celebration at the corner
stone laying Tuesday.
GAVIN MAY STICK
Greensboro—District Attorney E.
L. Gavin may be permitted to remain
in his present office until the matter
of solicitation of campaign funds from
North Carolina post masters by W. H.
Foster, treasurer of the Republican ex
ecutive committee, is cleared up. J. R.
McCrary of Lexington has been rec
ommended to succeed Mr. Gavin.
DECEMBER HIGHWAY DEATHS
Raleigh—The December report of
the State Highway Patrol shows 26
persons were killed, 119 injured, 98
drunken drivers and 19 drunk on the
highways. Highway officers gathered
a total of $13,650.81 in fines and
costs and other recoveries of money
brought the revenue total to $18,
237.37.
RISKS LIFE FOR CAT
Kinston—-Fireman Ed Latham, many
times a hero, risked his own life to
save a cat from a burning house.
Latham, who once lost a child in a
fire, heard the whimpers of what he
thought was a baby, he searched
through smoke and finally came out
with a cat which had been trapped
in the house.
LOSES RING IN PRISON
New York—Valuables can be per
fectly safe among convicts. The.
Brooklyn Borough Gas Company has
received a letter from the Sing Sing
Mutual Welfare League saying a ring
has been found in prison and the
owner can have it by calling.
The gas company baseball team
played the inmates’ team recently.
CASHIER’S CHECK
FOR 250 DOLLARS
FOUND IN SEARCH
Two Other Checks, Issued
To City Of Salisbury, of
Smaller Denominations
Are Located By Officers
LARGE CHECK
BELONGS TO SON,
LYERLY STATED
Officer J. H. Krider,
Auditor G. E. Martin,
Jr., and Receiver Coggin
Conduct Search Of Ly
erly’s Premises.
A search of the home of Geo. M.
Lyerly, 722 South Main Street, was
made Tuesday night, in an effort to
locate any checks, stubs, receipts or
other papers belonging to the city of
Salisbury.
One check, a cashier’s check in the
amount of $250.00 made payable to
Geo. M. Lyerly was found; also, two
other checks of smaller denominations
issued in favor of the city of Salis
bury.
The checks were turned over to C.
L. Coggin, temporary receiver of the
estate of G. M. Lyerly, under a recent
order of Superior Court Judge John
Oglesby.
No other papgrs, purporting to be
the property of the city of Sajlbbttry,
were discovered.
Upon complaint of G. E. Martin,
Jr., certified public accountant, act
ing for the city, a search warrant was
issued by B. D. McCubbins, clerk of
the superior court. The warrant was
served by J. H. Krider, of the local
police force. He was accompanied by
Mr. Martin and C. L. Coggin, receiv
er.
Mr. Lyerly, who was at home at the
time the search was conducted, stat
ed that the $250.00 check belonged
to his boy. The other checks, made
to the city, he stated, were no good.
The search warrant charges that
Mr. Lyerly, city tax collector for many
years and who is now under indict
ment for embezzlement, at various
times between 1927 and 1932, took
and carried away from the offices of
the city of Salisbury certain tax re
ceipts, privilege license receipts and
stubs, street assessment receipts, val
ue unknown.
The search warrant was issued on
January 26 and was served the same
day.
This action followed closely on the
heels of the appointment of a receiver
for the estate of Geo. M. Lyerly and
his subsequent indictment on a num
ber of counts charging embezzlement.
SHE WALKED 200 MILES
Fergus Falls, Minn.—After pastures
had dried near her home in Rock
Lake, N. D., Laila Randa and her
father decided to drive their stock to
Minnesota. They made the journey
here, a distance of 200 miles, on foot.
CHICKENS SWIM
Philadelphia—Ring, a pet duck on
the farm of Bert Brewin, a south Jer
sey farmer, has become swimming in
structor to his flock of 400 chickens.
Last summer a group of little chick
ens watched Ring swim in the pond.
Soon three or four tried the water.
Now the entire flock takes a daily
swim.
OLD OHIOANS CARRY ON
Pomeroy, Ohio.—Old age is no sig
nal for rest and quiet in Meigs coun
ty. In one day the following events
took place: D. D. Rhoades, 73, and
Etta West, 59, were married; S. S.
Symmonds, 78, applied for a hunting
license, and Peter Rutter, 79, was ar
rested on a charge of beating his wife.
NEW PRESIDENT CHOSEN
Morganton.—E. M. Hairfield, Mor
ganton attorney, has succeeded Frank
C. Patton, another local lawyer, as
president of the Morganton Kiwanis
club.